Cost Management

Duration:  2 Days

This course will assist delegates in understanding the principles of cost management in a service based industry.

  • Costing vs. Pricing
  • The principle of cost management
  • What is cost management?
    • Cost accounting
    • Basic principles of costing
    • Determining the cost of a product and a service – Traditional Costing
    • Other Costing Methods
      • Activity Based Costing (ABC)
      • Marginal Costing
      • Variable Costing and Absorption Costing
      • Standard Costing
    • Summary of Costing Methodology
  • The challenges of costing in a service based versus product based business
    • Different Costing methods applied to services
    • Advantages and disadvantages of using Cost Accounting in service industries

Leave a Reply

Your email address will not be published.